Got questions? Call us: 0508 2COMPARE (0508 226672)

Vodafone complete takeover of rural broadband provider Farmside

Vodafone complete takeover of rural broadband provider Farmside
Thursday, May 17, 2018

The purchase was announced after an agreement was reached with TeamTalk Limited to buy the remaining 30 per cent stake in BayCity Communications Limited, trading as Farmside, for $3 million.

In June 2017, Vodafone bought 70 per cent of Farmside for $10m.

As a part of that transaction, Vodafone retained the right to acquire the remaining 30 per cent for $3m at any time within a three-year period.

Farmside general manager Jason Sharp said it would be business as usual at the Timaru operation which employs about 47 people, tasked with engaging 14,000 customers nationwide, while fielding about 10,000 phone calls a month.

"It's business as usual for our customers and our team here in Timaru, we can continue to do what we love, which is connecting rural New Zealanders.

"This investment is a significant opportunity to enhance services and products available to our customers.

"It also drives home the importance of the Farmside brand, its value and level of trust within the rural community is significant, which Vodafone has recognised.".

Farmside would operate as a separate entity to Vodafone, he said.

"This means that Farmside will continue to run as it's own business.

"Vodafone has no plans to make any major changes to the business at this stage.

"Farmside will remain in Timaru with its full existing staff and expects to recruit a small number of staff in the coming months."

Sharp said it was "a very positive development..."

"It means our customers are able to get the best of both worlds; continuing to enjoy industry leading customer service and rural connectivity knowledge from our Timaru team but also, being able to take advantage of an enhanced products and services range that will eventually come with this change in ownership.

Vodafone chief executive Russell Stanners said the investment further deepened their commitment to rural communities.

"With Farmside now firmly a part of the Vodafone family, we can continue to deliver better outcomes for these communities and increase our presence in the rural broadband market".

The ownership change becomes effective from midnight May 31.

Source: Stuff

Related news
NZ Broadband’s lockdown report card
Independent tests reveal how NZ's broadband performed during COVID-19 lockdown. How did ADSL, VDSL and Fibre broadband perform during lockdown? How did your home...
May 21, 2020
Have your say - Protections for consumers that Chorus wants to move off copper and broadband
Have you had your say on the withdrawal of traditional copper broadband? The Commerce Commission wants your feedback on protections for consumers that Chorus...
May 20, 2020
Compare Power and Financial products with NZ Compare
Did you know that Broadband Compare is just one of the great tools available to Kiwi consumers to help you compare products and services?...
May 18, 2020
Login
×
Log in with
Sign up for free NZ Compare account
×
Log in with
3 Great Offers
×
offer
EXCLUSIVE OFFER
Unlimited Fibre 100 - ONLY $62.95/mth
Terms and Conditions apply
offer
UNLIMITED BROADBAND from $59.99/mth when you bundle with Energy. Limited Time Only. T&C's apply
offer
Get up to $200 CREDIT and
Free Amazon Prime for a year*
Limited-time offer